You need not be very creative to build good looking fonts. FontStruct is a new web-based font building that lets you create beautiful fonts in the browser itself using nothing but the mouse. The tool is powerful yet simple to use.
To make a new font from scratch, start the FontStruct font builder, pick the pencil tool from the tool palettes and start sketching. If you makee a mistake, just use the eraser. You can pick different styles for the corners and edges of your fonts to make them look more stylish.
Others can download your fonts as TrueType that can be installed on any Mac or Windows computer. If you are an Adobe Flash developer, FontStruct is again useful since it supports flash pixel fonts.
And it for the font designer (that is, you) to decide the licensing of the font. You can share the font under a Creative Commons license - the details of which are then embedded in the digital font file itself. Here’s a quick tutorial: